New homes to be built under Affordable Housing Scheme

The Department for Levelling Up, Housing and Communities has backed the expansion of an initiative to provide low-cost loans to housing providers. 

20,000 new homes will be built across the country under the Affordable Homes Scheme.

Due to an £3 billion increase in a Government-backed loan fund, the scheme can now be used to upgrade existing properties. 

Providers will be able to apply for loans to carry out vital building safety works, such as the removal of dangerous cladding. 

Housing minister Lee Rowley said: “We know getting cost-effective loans can be a stumbling block for many developers building more affordable homes or upgrading their existing stock, so it is of the quality tenants deserve.” 

Launched in 2020, the Affordable Homes Scheme has allowed 12 providers to deliver over 6,000 new homes.

As part of the scheme, providers will be able to apply for loans to help make homes fit for the future. These energy upgrades, such as solar panels, could potentially save tenants hundreds of pounds on their energy.

Watford Community Housing is one of the beneficiaries of the initiative, and they have built 200 new homes since accessing the scheme in 2021. 
 
Watford community housing chief executive Paul Richmond said: “The benefit of using the Affordable Homes Guarantee Scheme in terms of pricing over our 30-year plan is worth nearly 100 additional homes being delivered into our local community.”

The scheme is part of a bid from the Government to build 1 million homes this Parliament and deliver 300,000 homes a year. 
 

Event Diary

Join the digital, data and technology community at DigiGov Expo – where public sector experts and innovators gain knowledge to transform government services.

Futurebuild, the built environment’s most influential event for innovation and collaboration is back for its 18th year, taking place at London’s ExCeL from March 5 – 7 2024. The event, which is set to be the most impactful yet, will continue its mission in taking a stand for a better built environment, showcasing groundbreaking ideas, creative and inspirational innovations and crucial collaboration to help us set the stage for a greener, more resilient future.

Register Now

In a world where communication technology is evolving at an unprecedented pace, staying ahead of the curve is crucial for both personal and professional growth. The Communication Technology Expo, scheduled for the 13th and 14th of March 2024, promises to be a pivotal event for anyone seeking to explore the cutting-edge advancements in the field. From networking opportunities to hands-on demonstrations and thought-provoking discussions, here's why you should mark your calendar for this immersive experience.

Innovative Exhibitors and Demonstrations: